Equities analysts predict that Energy Recovery, Inc. (NASDAQ:ERII) will announce earnings per share (EPS) of $0.06 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Energy Recovery’s earnings, with estimates ranging from $0.05 to $0.06. Energy Recovery reported earnings of $0.07 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, August 1st.
On average, analysts expect that Energy Recovery will report full year earnings of $0.27 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.30. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.54 per share, with EPS estimates ranging from $0.27 to $0.80. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Energy Recovery.
Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $19.80 million during the quarter, compared to analysts’ expectations of $15.98 million. Energy Recovery had a net margin of 39.35% and a return on equity of 11.72%. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS.
ERII has been the subject of a number of analyst reports. TheStreet raised shares of Energy Recovery from a “c+” rating to a “b” rating in a research report on Friday, May 3rd. BidaskClub raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. JMP Securities reissued a “buy” rating and issued a $13.00 price objective on shares of Energy Recovery in a research report on Monday, March 11th. Finally, Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.67.
In other news, insider Lenox Sharon E. Smith sold 12,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $9.01, for a total transaction of $112,625.00. Following the transaction, the insider now owns 24,081 shares of the company’s stock, valued at $216,969.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nocair Bensalah sold 32,969 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $11.00, for a total transaction of $362,659.00. Following the transaction, the vice president now directly owns 106,458 shares in the company, valued at approximately $1,171,038. The disclosure for this sale can be found here. Insiders have sold 314,580 shares of company stock worth $3,305,352 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Trigran Investments Inc. lifted its holdings in Energy Recovery by 247.3% in the fourth quarter. Trigran Investments Inc. now owns 2,843,802 shares of the industrial products company’s stock worth $19,139,000 after acquiring an additional 2,025,009 shares during the last quarter. Avenir Corp lifted its holdings in Energy Recovery by 56.1% in the fourth quarter. Avenir Corp now owns 798,095 shares of the industrial products company’s stock worth $5,371,000 after acquiring an additional 286,899 shares during the last quarter. Quantum Capital Management lifted its holdings in Energy Recovery by 82.5% in the fourth quarter. Quantum Capital Management now owns 241,639 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 109,200 shares during the last quarter. First Trust Advisors LP lifted its holdings in Energy Recovery by 23.3% in the first quarter. First Trust Advisors LP now owns 533,469 shares of the industrial products company’s stock worth $4,657,000 after acquiring an additional 100,752 shares during the last quarter. Finally, Alambic Investment Management L.P. lifted its holdings in Energy Recovery by 425.0% in the fourth quarter. Alambic Investment Management L.P. now owns 97,222 shares of the industrial products company’s stock worth $654,000 after acquiring an additional 78,704 shares during the last quarter. 31.98% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:ERII traded up $0.05 on Thursday, reaching $10.04. The stock had a trading volume of 149,431 shares, compared to its average volume of 201,906. The company has a current ratio of 4.85, a quick ratio of 4.55 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $10.02. The company has a market cap of $544.26 million, a PE ratio of 49.90 and a beta of 4.49. Energy Recovery has a 12-month low of $6.17 and a 12-month high of $11.11.
About Energy Recovery
Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for small- to medium-sized desalination plants.
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